Insurance sector revenue grows 19 percent Business

Insurance sector revenue grows 19 percent

The insurance sector reported growth of 19 percent in premium income in the first five months of this year, topping 38.7 trillion VND (1.7 billion USD), the Insurance Association of Vietnam said.
Dai-ichi Life VN gets nod to up capital Business

Dai-ichi Life VN gets nod to up capital

Insurance provider Dai-ichi Life Vietnam has received a licence to raise its capital to 117 million USD, from 100 million USD, so as to invest in new distribution channels in Vietnam.
Move to help insurance brokers Society

Move to help insurance brokers

The legal framework for the operation of insurance brokerage companies will be improved to enhance their competitiveness, according to the Insurance Supervisory Authority under the Ministry of Finance.

Lukewarm response to export credit insurance

Only 46 export credit insurance policies were taken after three years of implementing a Government's pilot programme, according to the Ministry of Industry and Trade's Export and Import Department.

2014 insurance market hopes for booming growth

The domestic insurance market is expected to fare well this year, fuelled by economic recovery trend and the sector’s remarkable growth rate of 14 percent recorded in 2013, according to economists.

Premium growth slumps in first half

The insurance market experienced a lower rate of growth in the first half of this year, mainly due to economic difficulties, according to Trinh Thanh Hoan, Director of the Ministry of Finance's Insurance Supervisory Authority (ISA).

Local insurers must improve as foreign firms set up in Vietnam

As Vietnam continues to open up its insurance market further, allowing foreign non-life insurance companies to set up branches in the country, domestic firms will have to improve their act to cope with stronger competition, industry insiders say.

Phung Gia Loc, General Secretary of the Association of Vietnamese Insurers (AVI), said domestic non-life insurance companies will have to face more rivals with greater advantages this year.

Bright outlook for insurance

Vietnam’s insurance market is expected to continue its 2011 growth rate, with an estimated 19-21 percent year-on-year increase in 2012, according to an industry official.

Prudential reels in 30 million USD

Prudential Assurance Vietnam reported a new business premium of 615 billion VND (30 million USD) during the first half of the year, an increase of 21.2 percent year on year.